Eli Lilly Acquires Orna Therapeutics for $2.4B to Enter CAR T Space

The deal gives Lilly access to Orna's in vivo CAR T technology, starting with autoimmune diseases.

Published on Feb. 9, 2026

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Eli Lilly has acquired biotech Orna Therapeutics for $2.4 billion, marking the pharmaceutical giant's entry into the CAR T cell therapy space. Orna's lead asset, Orna-252, is a CD19-targeting CAR T therapy aimed at treating B cell-driven autoimmune diseases. Orna's approach involves delivering a circular RNA molecule via a lipid nanoparticle to induce cells to produce CAR T cells in the body, rather than the traditional method of removing and modifying a patient's own cells.

Why it matters

This acquisition signals that Lilly is not solely focused on CAR T therapies for cancer, but is also exploring their potential in autoimmune disorders - a strategy other CAR T developers have also begun to pursue. Lilly's CEO has previously expressed concerns about the accessibility of CAR T treatments, and the company is betting that Orna's in vivo approach can help address those issues.

The details

Orna's lead asset, Orna-252, has shown the ability to deplete B cells in non-human primates and is 'clinical trial-ready' according to the deal announcement. Orna's technology involves delivering a circular RNA molecule via a lipid nanoparticle to induce cells to produce CAR T cells in the body, rather than the traditional method of removing and modifying a patient's own cells. This in vivo strategy is expected to offer lower manufacturing costs and improved shelf-availability compared to traditional CAR T therapies.

  • Eli Lilly announced the $2.4 billion acquisition of Orna Therapeutics on February 9, 2026.

The players

Eli Lilly

A major pharmaceutical company headquartered in Indianapolis, Indiana.

Orna Therapeutics

A biotech company based in Massachusetts that is developing in vivo CAR T cell therapies, including a lead asset targeting B cell-driven autoimmune diseases.

David Ricks

The CEO of Eli Lilly.

Tom Barnes

The CEO of Orna Therapeutics.

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What they’re saying

“The data is amazing, but practically, it's not reaching many people.”

— David Ricks, CEO of Eli Lilly (Reuters)

“I'm very proud of what we achieved at Orna, and of the team that did it. Orna ... was the first circular RNA company and proselytized the value of circles over lines.”

— Tom Barnes, CEO of Orna Therapeutics (LinkedIn)

What’s next

Orna-252, Orna's lead asset, is expected to begin clinical trials in the near future as Lilly works to advance the in vivo CAR T therapy.

The takeaway

Lilly's acquisition of Orna Therapeutics marks the pharmaceutical giant's entry into the CAR T cell therapy space, with a focus on autoimmune diseases rather than just cancer. The deal highlights Lilly's interest in Orna's in vivo approach, which aims to address concerns around the accessibility and manufacturing costs of traditional CAR T therapies.